PRICE NOTICE: Midwest ferrous scrap indices

American Metal Market is proposing to move its monthly Midwest ferrous scrap indices to weekly, following the January settlement, and to expand the footprint covered under the Midwest designation. The first weekly publishing day would be Friday January 12, 2018.

The weekly index would be published at the end of the working day on Friday and reflect the latest spot transactions captured by American Metal Market.

It would add transparency to the market if spot trades are recorded and demonstrate stability in the absence of trade. The index is designed to incorporate intra-month transactions that might provide an insight into the direction of the market prior to the monthly settlement.

The vast majority of deals take place early in the month, and American Metal Market publishes the monthly settlement prices for individual grades and regions then. A small number of trades take place throughout the month, and American Metal Market aims to capture these transactions. When no deals are reported, the index will be published as unchanged.